Common use of Lien Status Clause in Contracts

Lien Status. Subject to Permitted Liens, Mortgagor shall preserve and protect the first lien and security interest status of this Mortgage and the other Credit Documents. If any lien or security interest other than a Permitted Lien is asserted against the Mortgaged Property, Mortgagor shall promptly, and at its expense, (i) give Mortgagee a detailed written notice of such lien or security interest (including origin, amount and other terms), and (ii) at Mortgagor's election, pay the underlying claim in full or take such other action so as to cause it to be released or contest the same in compliance with the requirements of the Credit Agreement.

Lien Status. Subject to Permitted Liens, Mortgagor shall preserve and protect the first lien and security interest status priority of this Mortgage and the other Credit Loan Documents. If any lien or security interest other than a Permitted Encumbrance or a Permitted Lien is asserted against the Mortgaged Property, Mortgagor shall promptly, after becoming aware of such lien, and at its expense, (ia) give Mortgagee a detailed written notice of such lien or security interest (including origin, amount and other terms), and (iib) at Mortgagor's election, pay the underlying claim in full or take such other action so as to cause it to be released or contest the same in compliance with the requirements of the Credit AgreementAgreement (including the requirement of providing a bond or other security satisfactory to Mortgagee), but only to the extent required by the Loan Documents.